WhiteFiber (NASDAQ:WYFI) Trading Down 7.7% – What’s Next?

WhiteFiber, Inc. (NASDAQ:WYFI)’s share price dropped 7.7% during mid-day trading on Thursday . The company traded as low as $26.75 and last traded at $26.9450. Approximately 733,901 shares traded hands during trading, a decline of 52% from the average daily volume of 1,517,217 shares. The stock had previously closed at $29.18.

Analyst Ratings Changes

Several research firms have recently commented on WYFI. HC Wainwright dropped their target price on shares of WhiteFiber from $34.00 to $20.00 and set a “buy” rating for the company in a research report on Friday, March 27th. Barclays started coverage on shares of WhiteFiber in a research note on Tuesday, June 9th. They issued an “equal weight” rating and a $27.00 price target for the company. Cantor Fitzgerald raised their price objective on shares of WhiteFiber from $13.00 to $27.00 and gave the stock a “neutral” rating in a report on Friday, May 15th. Needham & Company LLC lifted their price objective on WhiteFiber from $36.00 to $38.00 and gave the company a “buy” rating in a research report on Friday, May 15th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of WhiteFiber in a report on Wednesday, June 24th. Ten equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, WhiteFiber currently has a consensus rating of “Moderate Buy” and an average target price of $34.67.

WhiteFiber Trading Down 9.6%

The stock’s fifty day simple moving average is $31.10 and its two-hundred day simple moving average is $21.80. The firm has a market cap of $1.02 billion and a PE ratio of -18.04. The company has a quick ratio of 2.77, a current ratio of 2.77 and a debt-to-equity ratio of 0.63.

WhiteFiber (NASDAQ:WYFI) last released its earnings results on Thursday, May 14th. The company reported ($0.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.07). The business had revenue of $21.92 million for the quarter. WhiteFiber had a negative net margin of 45.24% and a negative return on equity of 9.40%. The firm’s revenue for the quarter was up 30.4% compared to the same quarter last year. On average, sell-side analysts forecast that WhiteFiber, Inc. will post -1.26 EPS for the current fiscal year.

Hedge Funds Weigh In On WhiteFiber

Large investors have recently modified their holdings of the stock. Situational Awareness LP purchased a new stake in WhiteFiber during the 4th quarter valued at about $27,770,000. Clearfield Capital Management LP grew its holdings in shares of WhiteFiber by 426.6% during the fourth quarter. Clearfield Capital Management LP now owns 1,313,659 shares of the company’s stock valued at $20,756,000 after buying an additional 1,064,177 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of WhiteFiber by 4.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 600,315 shares of the company’s stock valued at $9,486,000 after acquiring an additional 24,189 shares in the last quarter. Balyasny Asset Management L.P. raised its holdings in WhiteFiber by 67.7% in the 4th quarter. Balyasny Asset Management L.P. now owns 457,749 shares of the company’s stock worth $7,232,000 after acquiring an additional 184,829 shares during the last quarter. Finally, Marshall Wace LLP bought a new position in WhiteFiber in the 3rd quarter valued at approximately $9,105,000.

WhiteFiber Company Profile

We believe we are a leading provider of artificial intelligence (“AI”) infrastructure solutions. We own high-performance computing (“HPC”) data centers and provide cloud-based HPC graphics processing units (“GPU”) services, which we term cloud services, for customers such as AI application and machine learning (“ML”) developers (the “HPC Business”). Our Tier-3 data centers provide hosting and colocation services. Our cloud services support generative AI workstreams, especially training and inference.